Fwd: REPLY (To: Br Khaja Wasey Ahmed, Jeddah; From: Mohammad Usman, Jeddah)
*** IQBAL MASTHAN***
From: Mohammad Usman <mus...@kindasa.com>
Date: Mon, Nov 17, 2008 at 10:49 AM
Subject: REPLY (To: Br Khaja Wasey Ahmed, Jeddah; From: Mohammad Usman, Jeddah)
To: "Ahmed,Khaja,JEDDAH,SA-GLOBE-SC" <Khaja...@sa.nestle.com>
Wa-aleikummussalam
I have one point regarding the Equity Shares i.e. as it has partnership in ownership so it is Halal which I doubt
Brother if you have any doubts to understanding of the implications of owning a share, you can refer to any Islamic Scholar who has sound knowledge on shares, stocks, their types and whether its Halal or Haraam, holding a share is not partnership in running the company, its partnership in the total equity of the company which in most of the cases is less than 5%.
Do you think any share holder has any right to say as a partner to the owner of the company? I think the answer is NO. So how being a share holder of the co. you cannot advise or suggest any changes in the company's policies i.e. you have no partnership in ownership.
Brother I truly appreciate your concern, but partnerships can be of many different types i.e. a person can be a partner with his work, intelligence, opinion, investment, land etc and all of these types are Halal according to Islam. As well as the size of his input into the partnership gives him the right to several governing decisions i.e. if you hold more then a certain percentage of shares you will get voting rights that means you can vote to choose who will be a director to the company.
Because if there are two partners in a business both have same rights but in this case you are not.
If there is two or any number of partners in the company their rights are different as per their investment, skills and education level.
If you find my answers not justified please refer to any other Alim-e-deen, who you find can justify your arguments.
Jazak Allah
Your Brother-in-Islam
Mohammad Usman
From: Ahmed,Khaja,JEDDAH,SA-GLOBE-SC [mailto:Khaja...@sa.nestle.com]
Sent: Sunday, November 16, 2008 9:27 AM
To: Mohammad Usman
Cc: aamir ahmed
Subject:REPLY (To: Aamir Ahmed Feetwala; From: Mohammad Usman, Jeddah-Saudi Arabia)
Dear Mr. Usman,
Assalam Alaikum. I have one point regarding the Equity Shares i.e. as it has partnership in ownership so it is Halal which I doubt.
Do you think any share holder has any right to say as a partner to the owner of the Co. I think the answer is NO. So how being a share holder of the Co. you cannot advise or suggest any changes in the Co. policies i.e. you have no partnership in ownership. Because if there are two partners in a business both have same rights but in this case you are not.
Pls elobarate.
Thanks & Best Regards,
Khaja W Ahmed
Khaja Wasey Ahmed
Mob:0504385041
Tel: 5910034 Ext220
Fax:5910240
email: khaja...@sa.nestle.com
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